sec.155Length of term leases

### sec.155 Length of term leases A term lease must not be issued for more than 50 years. However, a term lease may be issued for up to 100 years if it is for— a significant development or the operation and maintenance of a significant development; or a timber plantation; or a development that involves existing improvements that in the opinion of the Minister have required a high level of investment. s 155 amd 1997 No. 41 s 4 ; 2007 No. 19 s 67 (amd 2007 No. 48 s 40 ); 2010 No. 12 s 107 ; 2013 No. 2 s 120 ; 2013 No. 23 s 65 ; 2014 No. 29 s 35 (sec.155-ssec.1) A term lease must not be issued for more than 50 years. (sec.155-ssec.2) However, a term lease may be issued for up to 100 years if it is for— a significant development or the operation and maintenance of a significant development; or a timber plantation; or a development that involves existing improvements that in the opinion of the Minister have required a high level of investment. - (a) a significant development or the operation and maintenance of a significant development; or - (b) a timber plantation; or - (c) a development that involves existing improvements that in the opinion of the Minister have required a high level of investment.